Vestal Point Capital LP Acquires 590,000 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

Vestal Point Capital LP grew its holdings in Structure Therapeutics Inc. (NASDAQ:GPCR) by 105.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,150,000 shares of the company’s stock after acquiring an additional 590,000 shares during the period. Structure Therapeutics makes up 3.8% of Vestal Point Capital LP’s portfolio, making the stock its 6th biggest position. Vestal Point Capital LP’s holdings in Structure Therapeutics were worth $50,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPCR. Sandia Investment Management LP bought a new position in Structure Therapeutics during the second quarter worth about $39,000. Assetmark Inc. boosted its stake in Structure Therapeutics by 120.0% in the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after buying an additional 719 shares in the last quarter. Quarry LP bought a new stake in Structure Therapeutics in the second quarter valued at $79,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after acquiring an additional 1,420 shares during the period. Finally, Dearborn Partners LLC acquired a new stake in shares of Structure Therapeutics in the 3rd quarter valued at $202,000. 91.78% of the stock is owned by institutional investors.

Structure Therapeutics Price Performance

Shares of NASDAQ:GPCR opened at $33.75 on Friday. Structure Therapeutics Inc. has a 12 month low of $26.61 and a 12 month high of $66.38. The company’s 50-day moving average price is $38.39 and its two-hundred day moving average price is $39.42.

Analyst Ratings Changes

A number of brokerages recently issued reports on GPCR. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. JMP Securities dropped their price objective on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley began coverage on Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $86.80.

About Structure Therapeutics

Structure Therapeutics Inc, a clinical stage global biopharmaceutical company, develops and delivers novel oral therapeutics to treat a range of chronic diseases with unmet medical needs. The company’s lead product candidate is GSBR-1290, an oral and biased small molecule agonist of glucagon-like-peptide-1 receptor, a validated G-protein-coupled receptors (GPCRs) drug target for type-2 diabetes mellitus and obesity.